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Stock Market & Financial Investment News

News Breaks
January 8, 2013
05:55 EDTGRMN, GRMN, ATML, ATML, MXIM, MXIM, MU, MU, STX, STXCleveland Research to host investor meetings
Cleveland Investor Meetings at CES is being held in Las Vegas on January 8-9 starting with a dinner meeting with Garmin on January 8.
News For GRMN;ATML;MXIM;MU;STX From The Last 14 Days
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January 22, 2015
08:01 EDTSTXSeagate expands collaboration with Super Micro Computer
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07:56 EDTSTXBullish stance continues for Western Digital, Seagate, says Brean Capital
Brean Capital said it maintains its bullish stance on hard disk-drive makers Western Digital (WDC) and Seagate (STX), citing continued growth, margin expansion and ongoing multiple expansion. Brean Capital reiterates its Buy rating on both Western Digital and Seagate shares.
January 21, 2015
17:50 EDTMUSanDisk reverses in after hours to down 6% after guidance
SanDisk peer Micron is trading down over 1% in the after hours.
January 20, 2015
08:25 EDTMUMicron upgraded to Positive at Susquehanna
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06:47 EDTMUMicron upgraded to Positive from Neutral at Susquehanna
January 16, 2015
16:36 EDTMUMarket finishes week lower on continued oil, global growth worries
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09:37 EDTMUActive equity options trading
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January 14, 2015
10:00 EDTMXIM, GRMNOn The Fly: Analyst Upgrade Summary
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08:10 EDTGRMNGarmin acquires assets of iKubu, terms not disclosed
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07:18 EDTMXIMMaxim Integrated upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded Maxim Integrated to Overweight on expectations the company's wireless segment will experience improved fundamentals. The firm raised its price target for shares to $40 from $32.
06:39 EDTGRMNGarmin upgraded to Sector Perform from Underperform at Pacific Crest
Pacific Crest upgraded Garmin to Sector Perform citing a more reasonable valuation following the recent pullback. The firm sees fair value around $50 per share.
January 13, 2015
13:21 EDTMUSamsung plans to ramp DRAM capacity, a negative for Micron, says Northland
Northland's checks indicate Samsung is buying more DRAM memory equipment with plans to increase capacity. The analyst expects the increased supply without the offsetting increase in demand will lead to pricing pressures and notes Micron (MU) is the high cost producers and will likely see the most pressure from the move.
11:57 EDTSTXHP rises after PC report despite Pacific Crest downgrade
Shares of personal computer maker Hewlett-Packard (HPQ) are rising after research firm Gartner estimated that worldwide PC shipments had risen 1% last quarter. The advance comes despite research firm Pacific Crest having downgraded HP shares this morning. WHAT'S NEW: Worldwide shipments of PCs increased 1% last quarter, Gartner estimated. "These results indicate a slow, but consistent improvement following more than two years of decline," the firm wrote. The estimate suggests that PCs are not fading into oblivion, as some had predicted. Despite this news, research firm Pacific Crest downgraded HP to Sector Perform from Outperform in a note to investors today. HP is facing increased competition, as a number of companies are buying fewer individual servers and IT storage products, Pacific Crest analyst Brent Bracelin stated. Instead, they are buying integrated IT stacks. Ongoing technological trends could make this option more popular going forward, the analyst believes. Additionally, new data storage systems - including next wave systems with software-defined controls, cloud storage systems, and open sources systems - are growing rapidly and could increase the competitive pressure on HP, the analyst stated. Bracelin is less confident that HP's multiple can expand further going forward, he added. WHAT'S NOTABLE: Bracelin also downgraded NetApp (NTAP) to Sector Perform from Outperform for the same reasons that he cut his rating on HP. The analyst identified Tableau (DATA), F5 Networks (FFIV), Qlik Technologies (QLIK), and Nimble Storage (NMBL) as his favorite names in the IT infrastructure sector. F5 should benefit from earnings and multiple expansion as it carries out its security strategy, while Qlik is well-positioned to generate improved growth and margins, the analyst stated. Tableau and Nimble are poised to report better than expected results as their new products ramp up, Bracelin believes. OTHERS TO WATCH: Other companies that benefit from upbeat PC sales include Intel (INTC), Microsoft (MSFT), and hard disk drive makers Seagate (STX) and Western Digital (WDC). PRICE ACTION: In late morning trading, HP shares climbed 1.5% to $40.50.
10:17 EDTMUOptions with decreasing implied volatility
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07:15 EDTMUNeedham to hold a conference
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January 12, 2015
16:32 EDTMUOn The Fly: Closing Wrap
Stocks spent almost the entire session in negative territory as the continued slump in crude oil prices weighed on equities. As the price of crude searches for a bottom, analysts and investors are concerned about how the low prices may affect U.S. economic growth. It had been estimated that more than half of the expected growth in the S&P 500's earnings would come from the oil industry and the continued drop in oil prices may be wiping out the chances of earnings increasing from the prior quarter. The earnings season unofficially kicks off tonight when Alcoa (AA) reports its fourth quarter earnings. ECONOMIC EVENTS: In the U.S., no major economic data was released. WTI and Brent crude both suffered slides of 5% during the session, sending WTI oil below $46 and Brent near $47 per barrel. Of note, Goldman Sachs said it sees oil prices bottoming in Q2 of this year at $42 a barrel. Goldman lowered its Brent crude oil price estimate for 2015 to $50 a barrel from $84 and for 2016 onwards to $70 a barrel from $90. COMPANY NEWS: Shire (SHPG) shares trading in New York slipped $8.39, or 3.86%, to $209.10 after the company announced over this weekend that it struck a deal to acquire NPS Pharmaceuticals (NPSP) for $46 per share in cash, for a total consideration of approximately $5.2B. NPS shares gained $3.44, or 8.21%, to $45.35... Shares of flash storage provider SanDisk (SNDK) dropped $13.47, or 13.88%, to $83.57 after the company cut its revenue outlook for Q4 and added that non-GAAP gross margin for the quarter is expected to be approximately 45%, compared to the previously guided range of 47%-49%. "The lower revenue was primarily due to weaker than expected sales of retail and iNAND products," SanDisk explained. Micron (MU) fell $1.87, or 5.56%, to $31.66 following the warning from its peer. MAJOR MOVERS: Among the notable gainers was Foundation Medicine (FMI), whose shares surged $22.81, or 95.32%, to $46.74 after the company and Roche (RHHBY) announced that they will enter into a strategic collaboration. Roche will invest in Foundation as part of the deal, resulting in Roche owning a minimum of 52.4% and a maximum of 56.3% of Foundation Medicine on a fully diluted basis. Also higher was Build-A-Bear Workshop (BBW), which jumped $3.12, or 16.75%, to $21.75 after the toy company gave a fourth quarter revenue view that beat expectations. Among the noteworthy losers was Arrowhead Research (ARWR), which fell $2.16, or 23.84%, to $6.90 after announcing that the FDA verbally informed the company of a partial clinical hold on its study of ARC-520 in patients with chronic hepatitis B infection. Also lower were shares of Sarepta Therapeutics (SRPT), which dropped $2.04, or 14.62%, to $11.91 after the company provided data through Week 168 from its Phase IIb open-label extension study of eteplirsen in patients with Duchenne muscular dystrophy. INDEXES: The Dow fell 96.53, or 0.54%, to 17,640.84, the Nasdaq lost 39.36, or 0.84%, to 4,664.71, and the S&P 500 declined 16.55, or 0.81%, to 2,028.26.
12:46 EDTMUOn The Fly: Midday Wrap
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10:15 EDTMUOptions with decreasing implied volatility
Options with decreasing implied volatility: NBIX APOL NPSP BBBY INFY JCP MU TIF
09:34 EDTMUActive equity options trading
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09:03 EDTMUSanDisk drops 9% after cutting Q4 revenue outlook
Shares of flash storage provider SanDisk (SNDK) are sinking after the company cut its revenue outlook for Q4 to $1.73B from $1.80B-$1.85B. It added that non-GAAP gross margin for the quarter is expected to be approximately 45% compared to the previously guided range of 47%-49%. "The lower revenue was primarily due to weaker than expected sales of retail and iNAND products," SanDisk explained. The stock is dropping 9%, or $8.40, to $88.64 in pre-market trading while peer Micron (MU) is down 3% to $32.54.
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